The idea of a budget cap in F1 was first raised by former FIA president Max Mosley in 2008. He attempted to introduce on in 2010 but the plan was scrapped amid objections from the teams.

The teams imposed spending limits of their own through a Resource Restriction Agreement agreed by them within the Formula One Teams’ Association (FOTA). But Red Bull and Ferrari left FOTA at the end of 2011 as they failed to reach agreement on how to apply the RRA.

Horner remains convinced the RRA is unworkable, describing it as “fundamentally flawed” at the last race.

He said it was impossible to place a limit on spending at teams and enforce it because “Ferrari operates in a completely different way to McLaren or Mercedes or Red Bull.”

“The best way to control costs is through stable regulations. For example the biggest impact on Sauber’s costs next year will be a change of regulations with the drive train, so really the most sensible way to contain costs are stable, clear and concise regulations – both sporting and technical.”